A roundup of the latest developments in the Core ecosystem
Hello Coretoshis!
In this issue, we're diving into some of the most exciting and impactful developments in the Core ecosystem from the past week.
Core’s TVL Hits $70.14M with Significant Contributions from Native Protocols
Core’s TVL has been growing fast. Messari covered the Core ecosystem Q1 growth in detail - a good holistic piece to dive into how the ecosystem has been consistently growing.
As we near the end of Q2, the growth has been nothing less than phenomenal.
At the time of writing, Core’s DeFi TVL stands at $71.18m. Colend has been the dominant protocol this week, but native DEXs such as Glyph and COREx are contributing significantly.
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Core Ignition Drop
Core Ignition Drop’s first claiming phase opened on 10th June. All incentives were claimed as stCORE.
Core is allowing BTCB holders to double their Airdrop rewards: Core is offering a limited-time 2X Spark Multiplier for BTCB. From June 13th to July 23rd, all BTCB deposited in dApps will have a 2X Spark Multiplier on their daily Spark accumulation within the Core Ignition Drop. This means that for every Spark you earn, you will get double the amount, significantly boosting your rewards during the incentive program.
Spark Multiplier Caps: As Core Ignition Drop moves to its next phase, new Tier Multiplier caps have been introduced to create a fairer system for all participants. The caps are set as follows: Supernova at 10x, Wildfire at 9x, Inferno at 8x, Blaze, Campfire, and Ember at 7x each. These changes aim to ensure that everyone has an equal opportunity to maximize rewards and maintain a level playing field within the incentive program.
Double Spark Multiplier for stCORE: Exciting news for all Ignition members! From now, all stCORE holders will receive a 2x Spark Multiplier on their daily Spark accumulation within the Core Ignition Drop. This means that for every Spark you earn, you will get double the amount, significantly boosting your rewards during the incentive program.
New Integrations, dApps & Validators onboard
Avalon Finance is integrating with Core. This partnership is a big leap forward for Bitcoin DeFi (BTCfi), combining Avalon Finance’s innovative financial solutions with Core’s secure and robust blockchain infrastructure.
DeFi Technologies has deployed an independent validator node on the Core as part of its DeFi Infrastructure business line.The initiative is part of the broader collaboration with Core Foundation, which began with the development of innovative Bitcoin ETPs.
Core Welcomed Joyride Games to the ecosystem.
API3 has integrated a next-generation Oracle Stack on Core, providing decentralized data feeds (dAPIs) and the upcoming OEV Network to enhance Bitcoin DeFi (BTCfi) applications.
Swing.xyz is building cross-chain crypto liquidity and bridge aggregation infrastructure for the internet.
Miner’s Rush is a first-of-its-kind blockchain-powered Match-3 game. This casual game comes with 100+ levels of free-to-play campaign levels and Daily Tournaments for REAL CORE rewards.
New Builder Initiatives
Core kicked off the BTCfi Summer Hackathon with an awesome opening ceremony! Catch all the highlights from the speakers on YouTube.
Core announced its inaugural University Roadshow in Pakistan, in collaboration with the Web3 Pakistan team. The collaboration aims to connect and nurture young developers.
Some more highlights
The Pioneers NFT Mint Event took place on 11th June.
Core is partnering with Token Relations. This collaboration is going to bring you more Bitcoin-centric content and education. Plus, we'll dive deep into what matters most to the Core ecosystem.
Watch the first workshop of the BTCfi Summer Hackathon on YouTube: "Deep Dive into Challenges - Tracks, Dev Tools & Submission Guide"
Core Ventures has invested in COREx, a V3-style DEX designed for user-friendliness with engaging community features.
Marin Ventures has joined the Core Venture Network as a partner.
Initial Contributor to Core, Rich Rines, chatted about the technical design of Core in an episode of Bitcoin and Beyond. The discussion covered topics like Satoshi plus consensus, HTLC atomic swaps, and native Bitcoin staking using OP-time lock contracts.
We did some exciting AMAs this week! On June 12th, we hosted Gamic on the topic Building Bridges Between Web2 and Web3 with SocialFi. Then, on June 4th, we chatted with Alchemy Pay.
Most recently, on June 13th, we hosted a bilingual AMA on Core’s X (CN) channel where Rich Rines dove into non-custodial BTC staking with Core.
The latest chapter of the #BitcoinSummerOnCore saga is live on Galxe. Complete the series, earn XP, and secure the coveted exclusive Bitcoin Titan NFT. Plus, top leaderboard positions unlock special prizes for added excitement!
Core contributor Shivangi joined the Graviton Cohort V2, and saw some exciting projects and interesting use cases.
The first episode of "A blocmates Orange'' podcast is live where Rich Rines dive into DeFi on Bitcoin, BTC-Fi opportunities, and more.
Scaling Bitcoin
BTC Prague Conference: BTC Prague, one of Europe's most significant Bitcoin events, is currently taking place, bringing together major voices in the Bitcoin community. This event is a key platform for discussing the latest innovations and trends in Bitcoin scaling and adoption. With over 100+ conference speakers, it pulls in the world's most important bitcoin voices to converge in Prague to collectively foster the incredible movement of using bitcoin's power to transform.
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Enabling Parallel VMs On Bitcoin Network**: In the context of bitcoin scaling, BitReXe proposes Parallel VMs and Parallel Relay-Execution Distributed Architecture (PREDA), which is vouched as the CUDA for blockchains. PREDA is designed as a groundbreaking programming model to scale out smart contracts on sharding blockchains, parachain systems, and layer-2 blockchains. BitReXe leverages Bitcoin's existing hashing power for consensus, using BTC as the gas fee for transactions. This ensures that BitReXe benefits from Bitcoin's robust security framework while providing a trustless asset settlement mechanism between the two networks. BitReXe believes that resolving the lack of parallel mechanisms on Bitcoin can lead to a fundamental breakthrough of TVL benchmarking or even surpassing Ethereum by more than three times on Bitcoin Layer 2.
Runes Ruling the Bitcoin Network: Since its launch in April 2024, the Bitcoin Runes standard has dominated on-chain activity, surpassing Ordinals and BRC-20 in transaction share. Runes achieved over 50% of Bitcoin's blockchain bandwidth within just three months, highlighting significant investor interest. Runes’ latest takeover of the Bitcoin blockchain was recorded on two consecutive days — June 10 and 11 — when the standard took up 51% and 53% of the network bandwidth, respectively. This surge has bolstered Bitcoin mining revenues, generating nearly 2,500 BTC ($170 million) and facilitating over 1.6 million transactions. The adoption of Runes marks a notable shift in the Bitcoin ecosystem.
Looking to Build your next dApp in Web3?
Core is the best ecosystem to deploy on at the moment. It’s EVM compatible and there are lots of resources available to get you started. Check out coredao.org for more information.